citibank also declined. it said there is no money in this machine, where do i go now?, where do i go now? what if someone in my family falls ill and what is the point if we cannot have access to our own money when we need it? because of the strike, i didn't know about this and i tried to do some transactions but the banks are closed today and also tomorrow, which is surprising. the strike hasn't impacted me, i am dependent on internet banking and mobile banking so the closing branches doesn't make difference to me. the voices of striking bank union workers in india. how long would you be willing to sit in an airline seat? singapore airlines has said it is set to reintroduce a direct flight is set to reintroduce a direct flight from singapore to the us. it is the world's longest flight, so why are they doing this? can we afford it, katie? i am not sure, it is not likely to be cheap, but it is far. it is the longest commercial flight far. it is the longest commercial flight and it will go from here in singapore to new york. it is 16,700 kilometres which makes it the world'

turns out my client was in front of citibank, and he wanted to be part of the nudist movement. he had a scar, and he was conscious of his scar, and he was trying to rig the shirt around his private area with a binder clip so that it would cover the scar but so that he could participate in the nudist movement in the castro, so that's one article that came up. another article that may have came up was the julian hotel situation which was in 2011, where one of my clients had -- was arrested on an offense, and it was alleged -- and he indicated -- he said that the police officers had taken items from his hotel room: a laptop and a camera, and we -- i investigated that, and come to find out, there was video which showed that, and so that was in the news as well. >> supervisor cohen: so one of the things that i'm thinking about that's critical when a person is on the police commission is that a bern have a baseline understanding of how investigations are conducted. can you tell us some of the basic principles when you're putting together an investigation, what are the basic principle

this is sort of, on one hand, it's a testament to citibank, right? we're going to invest in your company. on the other hand, we're investing in your company because we don't think you're doing a good job >> you can like the assets and not like the way they're being managed. that's the general idea behind all activist investing in citigroup, it's a large example of that. and they have not kept up with the other companies. >> six tenths of a percent, of the overall stock. >> huge. valueact is not that big >> somebody buys 1%, they buy $1.2 billion, it's real money, but i mean, that's -- that's a drop in the ocean. >> real money for you, my friend >> real money for pete >> the stock was down 11% from its january high it trades at 1.08 times book value. it's one of the cheaper ones it does have a lot of fat and overhead they can cut. so i can see where you can make a case where you can see costs coming down. the efficiency ratio is really high that also has room to move down if they can see revenue growth that's the big question, can they see revenue gro

, but citigroup looks like old citibank, it was limited retail presence in the u.s., and i do think its sense, you know, on that basis, and, also, goldman call was the cycle would be longer, so no worry of credit being a problem. >> that's the old school me, mike, don't get on my grill. you were condescending, it was subtle, but i like it. i'm a product of the '80s. i still bank in manufacturers. >> handym many over there >> i don't know that i can top that >> brian, guy, thank you both very much. there's a lot more coming up top of the hour on "fast money", all the action begins at 5:00 p.m. eastern. >>> new rules might have you thinking twice about the food you choose at your favorite restaurantancoenncs d nviee stores that's next on the "closing bell." (barry murrey) when you have a really traumatic injury, we have a short amount of time to get our patient to the hospital with good results. we call that the golden hour. evaluating patients remotely is where i think we have a potential to make a difference. (barry murrey) we would save a lot of lives if we could bring the doctor to t

. >> reporter: the holdup happened wednesday morning at over and the citibank branch. bank video shows a man pointed a gun at a teller and hand over a note demanding cash. he got more than $18,000. surveillance cameras got his license plate on his getaway mercedes. this led police to the luton home in lafayette. officers watched until lucian drove away again, then apprehended him. >> this is not him. >> neighbors expressed shock that lucian's admitted joblessness and money problems after closing his restaurant could lead to this. he and his wife have two children in college. the couple worked at otago together. >> she was handcuffed and brought down to a patrol car, and they questioned her for about an hour and a half. then they brought her back. they could see that she did not know any answers. >> reporter: this turned out to be a bb gun. and lucian said he never intended to hurt anyone. but police insist any weapon elevates the danger to everyone. >> we cannot call a timeout and say let me check and see what you have. we have to go on what we know and what we see. ce

it happened at a citibank in orinda on wednesday morning. valentino luchin made off with about $18,000. he used to be the owner and executive chef at ottavio in walnut creek. police say someone caught a glimpse of luchin's license plate as he drove away and that's how police tracked him down. >>> new at 11:00, not in my backyard. a new facility to help young girls recover from sex trafficking is getting a cold shoulder from its neighbors. some of these girls are as young as 12 years old. our reporters joins us from the oakland hills where the neighbors are putting up a fight. tom? >> reporter: one of the reasons they don't want it here is because it's so close to this school. a classic case of not in my backyard. neighbors say they shouldn't be judged too harshly. >> the neighbors right now are really unhappy with how this got rolled out. >> reporter: suzette and william say they just want to protect children in their neighborhood. >> now we're being vilified as if we are somehow wrong for being concerned about our own children. >> reporter:

non-bank lender, and he is making a lot of loans to people who probably could not go to jp morgan or citibanka mortgage. prashant: he told me that. talking about the a man whose car was repossessed, and he was telling him we are not going to worry about that repossession. we are pretty lenient. -- what he told me is, right next door is a bank of america, and this guy went in , hee, and he demonstrated showed basically what they would do. they would kick him out. areays that is how they different. they are not going to kick him out, they will try to work with borrowers like him. jason: this nonbanking world is bigger than it was in the financial crisis. so much has been done theoretically to check the behavior of some of the biggest banks, all of the names that we know. what is being done to regulate the nonbanking world. put some size and scope around this. 80%hant: nonbanks now have of these fha loans. they have 50% of new loans overall. back then in 2007, it was about 20%. jason: i just want to make sure we understand. vicki percent of loans being made for home -- 50% of loans being made ar

citibank is also reducing some features on its price protection program. >>> there's a new horror movietflix supposedly is so scary people turn it off halfway through the movie. the movie is veronica. by a spanish director. it's about a teenage girl who tries to make contact with her father who died. she does it using a ouija board. during a solar clips. strange things start happening after that. many viewers have posted on twitter the movie is so scary they couldn't finish watching it. the movie is based on a true story about the unsolved case of a teenage girl in madrid in 1992 who mysteriously died after using a ouija board. >>> three blockbusters to get out for the top spot at the box office. star wars franchise once again stands solo at number one. >> we need to divert to that rear deflector field. >> we definitely do. >> "solo: a star wars story" debuted at number one. it tells the early story of han solo. there may be a disturbance in the force. disappointing $83 million, well below expectations. tomorrow's numbers come in, the total should be more than 100 million. deadpool took

he is accused of robbing a citibank and taking $18,000. he owns an italian restaurant. until money problems forced him to close it in 2016. surveillance video at that bank captured a man pointing a gun at a teller. it also got the license plate of his car as he was leaving the bank. the police arrested him as he was leaving his home in lafayette a short time later. the police say the money was found inside of his home. the pistol turned out to be a bb gun. >>> we have an update on the health scare on romaine lettuce. the cdc says it's okay to eat romaine lettuce. severe e. coli outbreaks that made 172 people sick in 32 states was linked to romaine lettuce grown in yuma, arizona. 1% in california died after eating the lettuce. the fda says no romaine lettuce has been harvested in yuma since april 16. it's not well past its 21 day shelf life. >>> three class-action lawsuits over the mishandling of hundreds of embryos and eggs at a fertility center have now been combined in federal court. in march, pacific first it does fertility center admitted that 400 embryos and eggs m

>> i like that will great minds think alike citibank i like the valuation, hasn't traded great but i right here. >> nobody likes snap but i think you can buy it. >> but everybody likes you, dan. >> they go away on friday. >> always big, guy, las vegas sands. >> i'm melissa lee, thanks for watching, see you back here tomorrow at 5:00 "mad money" starts right now >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. the bane of this market is not tariffs or interest rates or inflation. no, th

. >>> a man is in jail accused of robbing a bank. 54-year-old valentino luch chen grabbed a citibank teller monday morning. he was not wearing a disguise. his walnut creek restaurant octavio closed in 2016. he's been held on $100,000 bail. >>> you're never more than seven minutes away from my accuweather forecast. we'll start with temperatures in san francisco. richmond and san leandro and walnut creek, palo alto and fairfield, 52 in santa clara and tracy right now. cooler in pleasanton and daly city, 48. cooler than that in healdsburg, 47. good morning american canyon. here is a look at the golden gate bridge. want to do sight seeing today? much better, especially here. the beaches will be brighter but still chilly with temperatures around 60 trees. if you're going to be out on the bay, light breezes, comfortable there. if you're just out and about on a friday running errands or getting ready for your wife's birthday party tomorrow, more comfortable than it was yesterday. 12-hour planner, east bay 8:00. partly cloudy at 63. mostly sunny this afternoon from 72 at floon to 82 degrees

street, investment community, whoever is looking at ge got clear, they were 40% wrong on web tech citibank terms of value, they get 11.1, maybe that's 35%. but that may be how you have to look at it i would also make the argument and i have on the show even if ge owns zero this year, is the company worth zero? absolutely not if they are getting more for assets think about it differently. energy should be priced higher for sure. >> my push -- sorry. i'm going to pull, you push. >> temerity. >> temerity. >> dr. doolittle. >> i was going to say quickly chatter about ge short of that $20 billion where this he had to sort of cut, well short of it. that was supposed to happen in february does that mean we eliminate the dividend i don't know i don't know what it means for the stock if, in fact, they do. you might see carter's level. >> we could reduce in line with dive divestitures management alluded to. >> $20 billion is what they have to do. i think they are on their way. >> thank you, carter coming up, shares of netflix jumping as the company signs a multi-year deal with the obamas. the trader

it's citibank or city national bank.o there is already aparentsly a money trail and a bank-to-bank trail and financial transactions, whether it be a wire, ach payment or some other electronic payment, there is a record of those through the banks. those can readily be obtained by prosecutors, including if there is a shell company involved, such as essential consultants or some other entity. where there is a shell company, maybe a difficulty in locating the ultimate beneficial owner, for example, especially if its layered. here it seems that we don't have that kind of complex structure. so whether financial institutions are involved, that money should be traceable as a general matter. >> thank you for being a part of our special coverage. i will turn to another expert on the kind of crimes and statutes that can be implicated. when you look alt everything that's come out. there are seven different categories of potential violations, money laundering, bank fraud, bribery and conspiracy, some is at the federal level, some at

and citibank out with a warning on oil saying the surge on supply risk may be followed by a slump, as actually affected could trail expectations. 1%.e oil higher at 6/10 of soybeans in focus because that ceo of the world's largest oil see processor confirmed that china has indeed stop wind u.s. supplies because of the brewing trade war between china and united states. it is something the market suspected. and those are today's market minutes. i want to mention, as we await all of these earnings numbers, including tesla, we got earnings from corvo, the semiconductor maker that supplies apple among others. the shares are not moving much after hours even after earnings cannot ahead of estimates. we see a lot of negative news in semi conductors, particularly government makers that raised concerns about apple as well as how the semiconductor industry is doing. not gaining ground. julia: for now with more on today's market action is mike reagan. and still with us is leigh drogen. grappling to find macro reasons to describe some of the price action today. then pending to lean dovish because

don't apply to smaller institutions, credit unions and small banks on our main streets and where as citibankeran hire 40 or 50 lawyers to deal with the new regulation, the smaller banks in many instances can't. if you listen to the small banks as i do because they're terribly important to our communities, hey, therest a lot of stuff that just doesn't make any sense. now, this bill when you say chip away, this bill did, in fact, lighten some of the regulation on those small community banks. i understand. i've been watching this for a long time. it's very important for the democratic party and others to say every time that's a prosed change to the dodd-frank, wall street roll back. >> it did lift the asset threshold and so doesn't that make more banks too big to fail? >> well, no. what you're referring to, ali n alisyn, was something i was pretty ambivalent about. you don't like everything in a bill. i'm not sure to tell you the bill was absolutely perfect. i'm here to tell you it raised a lot of regulations on the smaller bank. what you're referring to is we used to define systemically importan

>> i took the money and put it into citibank. but my guess is wells fargo will be fine. they're going to generate an enormous amount of capital, and this too shall pass. they're being excessively penalized in the market, but it's fine. i can't own everything i'm not like the federal reserve board. i can't print money. given my overall outlook, we're more invested than most. we're pretty much fully invested have about 70% in equity, 30% in credit wi find a lot of things to do in the credit area. >> is it corporate credit right now? >> clos. >> let me ask you about kitciti. they took a big stake recently in citi. why that one specifically? these large investors are putting their money into it. >> big discount in the market multiple, generating a lot of excess capital corben and his team are doing an excellent job. no secret source just a good solid fundamental value. >> i want to show another piece of video here. that is facebook ceo mark zuckerberg once again before regulators, this time over in europe, in brussels to face the european parliament there. what could be a mo

i'm very encouraged to hear from both citibank and also the state that the private sector is finally profitable or a good business deal to stay the course. given that the green climate change was supposed to be raising $100 billion per year by 2020 to help with the climate side, and so far has raised a bit more than $10 billion. do you think by the transparency, improving transparency, providing the information for climate risk in terms of private investments, would this have enough potential to fill the gap that is left by some of the recent developments? >> great. >> thanks for doing this. it is great to no other country has followed the united states out of the agreement, but you know the paris agreement was a work in progress and the promise , was would ratchet up ambition over time, starting in 2022 close the gap between the commitments and under two-degree temperature limit. i wonder if you could say, two questions, what is the effect of on announced u.s. withdrawal other countries to stick with that ratcheting up of ambition, andbe with the dialogue going to the secretary-gene

. >> i was looking at the return of jpmorgan versus citibank. thought it was interesting i don't know if you've been looking a the performance. there's a stir up trouble for michael. they bought, what kind of fraction of shares value >> just 1.2 billion. >> yeah. and they wished them well. they're not activists. >> they're not. >> no. they're pass viss. >> they are. >> they're cordial suggestive. >> look when buffett did buy that citi service that was a secular low there in terms of the fall, it was a great interview. becky did unbelievable work. she's not being praised enough becky did unbelievable work. i thought it was -- i was wrapped. incredible. >> and now as a result of the new cnbc service, you can listen to him 20 years worth of annual meetings. >> there you go. >> yeah. >> it's pretty cool. >> yeah. alex griffin our in house buffett chronic is amazing becky gets it done. >> she's amazing they go apple and then look it's not easy to say, yeah, alphabet. >> speaking of getting it done takeda got it done for shire. >> let me tell you why

i was asked four40 years ago th month to start citibank's high yield fund, and we were the green eye anymore >> do you think all the adults are in the stock market, then? >> no. i think it's kind of similar i don't think it's -- i don't think that investors should take a lot of comfort from the fact people are investing in credit i mean, there's people who want income, and they don't like the income you can get from treasuries or from high grades or money markets, so they are pushing out into high yields and senior loans, and into direct lending and other forms of private credit, and they are knowingly taking risk. i don't think it can be argued that they are in a risk averse way. they are bidding, competing in the auction to buy investments and provide financing, and the auction, when it's heated as it is today, takes prices up, yields down, structure down, risk up. and that is why we're cautious today. >> do you consider crypto and bitcoin an asset class >> it's a speculation, and anything -- by the way, diamonds, paintings, oil, anything that doesn't produce cash flowis just a bet

doctor johnson and fox all have previous ties to firms like mastercard, citibank and bank of america and are working on implementation of the pilot card program. do you agree that it would be a conflict of interest if these people were selecting the financial firm that would carry out the program tax >> i am confident in the team tasked with implementing the pilot program and that the appropriate delineation of duties are in place and we are going to advance. >> that these particular individuals have close ties to the institutions if the word be that it could be involved that would be a conflict of interest. >> also was the work in the department of education take their ethical agreements very seriously and operate accordingly. >> have these people wreak used themselves of the decision-making process? >> as i said, all of the individuals in the department -- >> you are not going to respond to my question i will move on. will you commit to providing evidence of their refusal to this committee? >> as i said, i am confident -- >> i take your answer is no. can you testify that the pilot

fox and others have previous ties to financial firms like mastercard, citibank and bank of america. wthey're working on implementation of the pilot card program. do you agree that it would be a serious conflict of interest in these three people involved in selecting the financial firm that will carry out the program? >> i am confident in the team that is tasked with implementing this pilot program. at the appropriate delineation of duties are in place and that we are going to advance the program -- >> to believe these particular individuals with close the effusions if they were to be involved in selecting the institution that would have the program it will be a conflict of interest. >> all of those who work within the department of education take their ethics agreements very seriously. and are bound to them and operate accordingly. >> i find your answer Ãlet me move on. have these people recused themselves for the decision-making process?>> as i said, only the individuals within the department take their -- >> you're not going to respond to my question. i will move on. when you comm